86 066
Fashion Jobs
L'OREAL GROUP
Account Executive
Permanent · SAN JOSE
L'OREAL GROUP
Fsvp, National Accounts
Permanent · NEW YORK
L'OREAL GROUP
Assistant Vice President, o+o Data & Insights - l'Oreal Corporate Digital & Marketing Office
Permanent · NEW YORK
L'OREAL GROUP
Avp, Brand Engagement, Garnier us
Permanent · NEW YORK
L'OREAL GROUP
Director, National Accounts, Walgreens
Permanent · DEERFIELD
L'OREAL GROUP
Director, Brand Engagement Lead – Essie us
Permanent · NEW YORK
L'OREAL GROUP
Director, Eboutique – IT Cosmetics
Permanent · JERSEY CITY
L'OREAL GROUP
Kiehls LA - PT Keyholder - 0000026307
Permanent · LOS ANGELES
L'OREAL GROUP
Director of Marketing, Beauty Tech
Permanent · NEW YORK
L'OREAL GROUP
Global Marketing Director, l’Oreal Paris (Hair)
Permanent · NEW YORK
L'OREAL GROUP
Account Executive - Skinceuticals (Pittsburgh)
Permanent · PITTSBURGH
L'OREAL GROUP
Business Development Manager, Kerastase
Permanent · SAN FRANCISCO
L'OREAL GROUP
Accounting Director Latin America
Permanent · NEW YORK
L'OREAL GROUP
Director, Media Operations & Partnerships - l'Oreal Luxury Products Division
Permanent · NEW YORK
L'OREAL GROUP
Director, Application Security
Permanent · NEW YORK
L'OREAL GROUP
Director, Managed Platforms Lead
Permanent · BERKELEY HEIGHTS
L'OREAL GROUP
Assistant Vice President, Revenue Growth Management
Permanent · NEW YORK
L'OREAL GROUP
IT Cosmetics Retail Activation And Engagement Ambassador, 1.0, Manchester (37.5 Hours)
Permanent · MANCHESTER
L'OREAL GROUP
Accounts Payable Administrator
Permanent · TAMPA
L'OREAL GROUP
Kiehls - PT Keyholder - Chestnut Hill 1003600
Permanent · NEWTON
L'OREAL GROUP
Keyholder - Outlet Store (PT)
Permanent · TINTON FALLS
COTY
Marketing Director
Permanent · NEW YORK
By
Reuters
Published
Apr 26, 2017
Download
Download the article
Print
Text size

Brazil's Renner misses profit estimates as expenses jump

By
Reuters
Published
Apr 26, 2017

Lojas Renner SA, Brazil's No. 1 apparel retailer, missed first-quarter profit estimates on Tuesday, as surging expenses linked to store openings offset the impact of higher sales volumes.


Renner



In a statement, Porto Alegre, Brazil-based Renner said net income totaled 67 million reais ($21 million) last quarter, compared with 65.5 million reais a year earlier. Analysts projected profit of 70.3 million reais in the period, according to consensus estimates compiled by Thomson Reuters.

In November 2016, Lojas Renner's Chief Financial Officer Laurence Gomes said the apparel chain will keep its ambitious expansion targets for 2021, despite consumer spending in the country shows no signs of recovery. The retailer maintained it will grow its number of stores to 450 by 2021 from 290 currently. That would imply opening roughly 30 stores per year starting in 2017, a pace faster than in both 2015 and 2016.

The company originally estimated it would reach 408 stores by 2021 but revised that figure in May 2016, seeking to reap the benefits of its efforts to boost operating efficiency amid Brazil's recession.

It's a tough 12 months for Brazilian retailers, especially apparel stores. Retail sales fell 6.2 percent in 2016, their worst year in the IBGE series dating back to 2001, as Brazil weathered the second year of a recession that has left more than 12 million people unemployed.
 

© Thomson Reuters 2024 All rights reserved.